Cars

Nissan goals rise on robust sales

By Yu Qiao (China Daily)
Updated: 2010-11-08 11:22

The joint venture between Dongfeng and Nissan will offer seven new passenger vehicle models in the next two years as well as its self-developed all-new brand Venucia. [Photo/China Daily]

Stronger than expected performance boosts expectations for 2012

BEIJING - Sino-Japanese joint venture Dongfeng Motor Co Ltd has sharply raised its sales target for 2012 due to stronger than expected performance in the first 10 months of this year.

The partnership between Nissan Motor Co Ltd and China's auto group Dongfeng Motor Corp plans to sell 1.5 million vehicles in 2012, up from its previous goal of 1 million, according to Kimiyasu Nakamura, company president.

In 2008, it set a sales target of 1 million vehicles for 2012. Nakamura said the joint venture already sold 1.05 million vehicles by the end of October this year.

He said the full-year sales will hit 1.2 million units, up from 925,000 in 2009.

Projected sales include 650,000 cars and almost 550,000 commercial vehicles.

Nakamura also announced plans to increase annual production capacity from 975,000 units last year to 1.2 million units in 2011 and 1.5 million in 2012.

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The company now has factories in Hubei, Henan and Guangdong provinces.

Its lineup includes passenger vehicles under the Nissan brand and the newly created badge Venucia whose property rights are owned by the joint venture, as well as Dongfeng-brand commercial vehicles.

Nakamura said the joint venture will offer numerous new products over the next two years including seven passenger vehicle models.

Vehicle sales in China, the world's top auto market, are predicted to reach 17 million units this year, up from 13.7 million in 2009, according to the China Association of Automobile Manufacturers.

The joint venture Dongfeng Motor Co Ltd was formed in 2003 with registered capital of 16.7 billion yuan. It now has a workforce of around 70,000.

In 2003, it sold only 298,000 vehicles.